Crude oil prices rise after OPEC (Plus) announces to cut production

Global Crude prices today rose sharply after OPEC (Plus), the grouping of the world's largest oil-producing countries, said, they will cut production, a surprise move that stands to boost gasoline bills and inflation in the Western countries. The group announced they were cutting output by more than one million barrels of oil a day from May until the end of the year. The Organization of the Petroleum Exporting Countries (OPEC) comprising Saudi Arabia, Iraq and several Gulf States and th...